Marie Antoinette Chair Sells for a Record US$2.8 Million

A royal chair created for the boudoir of Marie Antoinette achieved €2.6 million (US$2.8 million) Thursday evening at Sotheby’s in Paris, setting a record for a single 18th-century chair.

The sale was the first in a series of four physical and online auctions being held this month featuring the collection of the late Hubert Guerrand-Hermès, a fifth-generation descendant of Thierry Hermès, founder of the French luxury house.

“Tonight’s sale was a celebration of prestigious provenance, as the undeniable response to Hubert Guerrand-Hermès’ eye for collecting showcased the continued demand for the most elevated world of refinement,” Mario Tavella, president of Sotheby’s France and chairman of Sotheby’s Europe, said in a news release.

The Louis XVI gilt walnut chair, made circa 1784-85, ignited a “flurry of bidding,” according to Tavella. It was one of 60 pieces sold on Thursday for a total of nearly €23 million, with fees, triple a pre-sale high estimate of nearly €9 million (which did not include fees). More than 80% of lots sold for more than their high estimates.

Guerrand-Hermès was a passionate, wide-ranging collector. The 1,000-plus items being auctioned across the four sales span centuries and include royal furniture and rare books in addition to works by contemporary artists such as Antony Gormley and Anish Kapoor.

Collectors appeared drawn to Guerrand-Hermès’ diverse tastes, fiercely bidding as much for the contemporary art as the 18th-century furniture, according to Tavella.

While the record-setting, carved, and regilded Louis XVI chair—which was thought to have been created for Queen Marie-Antoinette’s intimate personal rooms at Versailles—stole the headlines, the top lot of the evening was a monochrome canvas by Pierre Soulages, Painting 130 x 162 cm, February 28, 1970, which sold for €3.1 million —the highest price for a 1970s work by the French artist. Guerrand-Hermès had bought the painting at a Sotheby’s Paris auction nearly 14 years ago for €720,750

Guerrand-Hermès, who died in 2016 at the age of 75, had been vice chairman of Emile Hermès SARL, which represents the family shareholders, and general manager of the group’s real estate companies. He also served as a foreign trade adviser to the French government and was made an officer of France’s Legion of Honor in 1999.

The Guerrand-Hermès auctions will continue this week with a focus on the Duchesse de Berry—described by Sotheby’s as “one of the most famous and fascinating aristocratic figures of the 19th century.”

Bhutan has become the first country in the world to implement a national-level cryptocurrency payment system for tourism, marking a major milestone in digital innovation and travel.

Launched in partnership with Binance Pay and Bhutan’s fully digital DK Bank, the system enables travellers with Binance accounts to enjoy a seamless, end-to-end crypto-powered journey. More than 100 local merchants, from hotels and tour operators to small roadside vendors in remote villages, are already live on the system.

“This is more than a payment solution — it’s a commitment to innovation, inclusion, and convenience,” said Damcho Rinzin, Director of the Department of Tourism, Bhutan.

“It enables a seamless experience for travellers and empowers even small vendors in remote villages to participate in the tourism economy.”

Using supported cryptocurrencies, tourists can now pay for nearly every part of their trip, including airline tickets, visas, the Sustainable Development Fee (SDF), hotel stays, monument entry fees, local guides, and shopping, all through secure static and dynamic QR code payments.

Binance CEO Richard Teng praised the move, saying: “We are excited to partner with Bhutan as we are not only advancing the use of cryptocurrencies in travel but also setting a precedent for how technology can bridge cultures and economies. This initiative exemplifies our commitment to innovation and our belief in a future where digital finance empowers global connectivity and enriches travel experiences.”

Known as the “Kingdom of Happiness,” Bhutan has long prioritised Gross National Happiness over GDP, with a strong focus on sustainability, cultural preservation, and societal well-being. The new system aligns with these values by reducing payment friction and bringing financial inclusion to local communities.

Among the key features of the system:

Seamless Experience: Tourists can pay with crypto for all travel-related expenses.
Inclusive Reach: Small vendors, even in remote areas, can accept QR code payments.
Lower Fees: Transactions cost significantly less than traditional payment methods.
Comprehensive Support: More than 100 cryptocurrencies supported, including BNB, BTC, and USDC.
Secure and Instant: Real-time confirmations, 2FA, and encrypted transactions via the Binance app.

Behind the local settlement mechanism is DK Bank, Bhutan’s first fully digital bank. Licensed by the Royal Monetary Authority of Bhutan, it aims to deliver accessible financial services to all, including marginalised and unbanked communities.

The launch is being hailed as a bold step forward in integrating digital finance with global tourism — one that could set the benchmark for other nations looking to modernise the travel experience while empowering their local economies.

Marie Antoinette Chair Sells for a Record US$2.8 Million

Bhutan is pioneering a new frontier in travel by allowing tourists to pay for flights, visas, hotels and even fruit stalls using cryptocurrency via Binance Pay.